What is the VP product portfolio management? If you are interested in this study, do not hesitate to read this. You can get more information from this article.
What is the VP Product Portfolio Management?
VP product portfolio management is a role in a large organization typically overseeing the management of a product portfolio.
The skillset of VPs product portfolio management is usually quite broad and includes marketing, product management, engineering, project management, and business development.
A VP of product portfolio management may also have function-specific skills such as supply chain or customer service.
What Does a VP of Product Portfolio Management Do?
A VP of product portfolio manager manages the entire life-cycle of a product from conception to its retirement. Also, the VP of product management work with the vision and strategy of the company, the goals, and objectives of the company, and the needs of customers to make sure products are relevant to the market and support revenue goals.
A VP of product management is responsible for creating new products while improving existing products when necessary. A VP of product management helps the company meet its financial goals. But also has business development responsibilities that may include strategic partnerships, acquisitions, and mergers.
To be considered as a VP of product management, you will also need to develop specific skills. These skills are essential for every new VP of product management. Some of the key activities that are part of this role are the following:
- Developing the strategy and vision of the company;
- Managing all products from conception to retirement;
- Managing relationships with customers and suppliers;
- Developing and maintaining a product portfolio that meets the needs of customers;
- Ensuring that the product portfolio supports the strategy and goals of the company;
Product portfolio management aims to realize the best and most innovative products in a way that aligns with the vision. Also, an overall strategic plan to achieve your business objectives.
The career path of a VP of product management is not an easy one. It requires a lot of hard work and dedication. The length of this career path may vary depending on the industry you work in and the organization you are working for. But, it is quite common to spend over 10 years in this role.
The career path of a product portfolio manager is not very common. There are some fields where this is a common job title.
For example, financial services companies or manufacturing companies have VPs of product portfolio management. Also, having a background in engineering is often a key requirement for getting into this role.
The most important thing is that you must be able to develop your skills, and you also need to be willing to learn more every day. This is a great job for people who like to solve problems and are looking for personal and professional growth.
The salary of a VP of product portfolio management is highly variable, depending on the industry you work in or the organization you work for. The average salary range is from $144,000 to $725,000 per year.
So, this article gives you a brief overview of the career path of a VP of product portfolio management. You can do more research on this topic. If you want to be considered as a VP of product portfolio management, you need to develop skills that are essential for this role.